New York Life Investment Management LLC Sells 3,158 Shares of The Allstate Corporation $ALL

New York Life Investment Management LLC lowered its stake in shares of The Allstate Corporation (NYSE:ALL) by 8.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,960 shares of the insurance provider’s stock after selling 3,158 shares during the period. New York Life Investment Management LLC’s holdings in Allstate were worth $7,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Rehmann Capital Advisory Group raised its stake in shares of Allstate by 3.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock worth $338,000 after purchasing an additional 51 shares in the last quarter. Linscomb Wealth Inc. raised its stake in shares of Allstate by 1.3% during the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after purchasing an additional 54 shares in the last quarter. Ancora Advisors LLC raised its stake in shares of Allstate by 0.7% during the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock worth $1,740,000 after purchasing an additional 55 shares in the last quarter. Cooper Financial Group raised its stake in shares of Allstate by 5.5% during the 2nd quarter. Cooper Financial Group now owns 1,057 shares of the insurance provider’s stock worth $213,000 after purchasing an additional 55 shares in the last quarter. Finally, Bank of Hawaii raised its stake in shares of Allstate by 1.4% during the 1st quarter. Bank of Hawaii now owns 4,046 shares of the insurance provider’s stock worth $838,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of NYSE ALL opened at $189.87 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s fifty day moving average price is $203.12 and its two-hundred day moving average price is $201.12. The Allstate Corporation has a one year low of $176.00 and a one year high of $215.70. The firm has a market cap of $50.03 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 0.69 and a beta of 0.38.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same period in the prior year, the firm posted $1.61 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group upped their price objective on Allstate from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Roth Capital set a $230.00 target price on Allstate and gave the stock a “buy” rating in a report on Friday, September 26th. BMO Capital Markets boosted their target price on Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Finally, Wells Fargo & Company decreased their target price on Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.27.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.